Tortoise North American Energy Corp., Leawood, Kan., (NYSE: TYN) has redeemed approximately $7.2 million of its $10 million of auction rate preferred shares series I. The company plans to redeem the remaining $2.8 million on the next auction date of Dec. 26.

Tortoise North American is publicly-traded closed-end fund focused on investing in equity securities of MLPs, including oil and gas exploitation, energy infrastructure and energy-shipping companies.